Therap’s Personal Finance Tool Allows Agencies to Track Routine Expenses and Reporting

WATERBURY, Conn., Aug. 1, 2019 /PRNewswire/ — Therap’s Personal Finance tool allows users to record an individual’s transactions for various types of account, such as cash on hand, personal spending, gift cards and more. The tool lets providers and community support staff track routine expenses and record income sources, manage personal funds and record any day-to-day transactions. The Personal Finance tool provides staff flexibility to report field expenses and features reporting functionality keeping the finance department in the loop regarding personal or incidental expenses, or the need to spend down funds for eligibility requirements. Staff can attach receipts to transaction records while the central office finance personnel generate reports to address any gap in the data or inquire about missing documentation. This improves the timeframe of identifying missing receipts or entries, reducing instances of searching for receipts or recalling entries weeks or months after the fact.  Auditors have tools to verify events through geo-location, secure photos, time-stamped check-in activities, and additional supporting documentation. Administrators can limit the maximum number of days to add or adjust a transaction, or toggle that date as needed up to 10 years, if needing to update older records.

Therap’s solution for tracking expenses and funds enables user definition and configuration including different account types. Users can attach scanned or digital copies of transaction receipts or statements. The Finance department can identify these uploads and generate agency-wide reports to analyze trends, categorize expenses and run full reports on individuals across multiple accounts. Using these reporting features, Finance can perform multiple standardized reports or custom reports on the data they’d like to review. This flexibility is standard across Therap’s reporting tools, from personal finance tracking to goal and outcome data collection and reporting, to monitoring health and well-being to billing for service delivery. These reports help users to track utilization and competency of services, ensuring quality services have been provided and documented.

About Therap

Therap provides person-centered planning and assists with case management and eligibility assessments for support providers and state organizations working with developmental disabilities. Therap also offers staff support for employee training management by certified trainers, individual budgeting and work scheduling as well as billing solutions including service authorizations, attendance and Medicaid claim tracking modules.  

Source: https://www.therapservices.net/

View original content:http://www.prnewswire.com/news-releases/theraps-personal-finance-tool-allows-agencies-to-track-routine-expenses-and-reporting-300895184.html

SOURCE Therap